BAKU, Azerbaijan, Jan. 25
By Sadraddin Aghjayev - Trend:
Azerbaijan's exports and imports increased from January through November 2021, the monthly report of the World Bank (WB) said, Trend reports.
According to the report, the exports rose by 51.6 percent and imports by 7.5 percent compared to the first 11 months of 2020. In November, hydrocarbon exports grew by 34 percent compared to October and more than tripled on annual basis.
In the first 11 months of last year, non-hydrocarbon exports from Azerbaijan rose by 51 percent year on year with the main export items being fruits, raw cotton, different fertilizers, and gold.
Meanwhile, according to the WB, imports of the country also increased due to the recovery in domestic demand and increased import prices.
At the same time, a trade surplus of 19.8 percent of GDP was formed. The balance of payments showed a surplus of 6.6 percent of GDP, added the WB’s report.
Azerbaijan has been cooperating with the WB since 1992. The bank is supporting Azerbaijan in implementing the most important structural reforms.
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